Bi-Monthly Report

Global Cybersecurity: Sentiment and Trends

Around the world, companies are facing up to the challenges of global cybersecurity. But between industries, roles and regions concerns differ, with perception about the scale of the challenge remaining deeply variable. Using information collected by GlobalData, we look at the current sentiment of key decision makers and senior management from around the world

Regardless of industry or region, concern about cybersecurity remains high, with the majority of those surveyed expressing significant concern about the issue. Almost 70% said their organisation was either very or extremely concerned about cybersecurity, with only a tiny percentage of respondents not expressing any concern at all.

Organisations Remain Concerned about Cybersecurity

However, the level of concern varies significantly depending on the role of the respondent. While all groups expressed concern overall, greater concern was expressed by those in technical positions compared with those in executive-level roles.

Your Role Affects How Much You Worry About Cybersecurity

Executive Team

IT and Engineering

Sales and Marketing

Finance, Purchasing, Operations and Administration

While there are a host of different issues that a cybersecurity breach poses, for most companies the greatest concern is overwhelmingly the exposure or theft of confidential or high-value data. However, many companies are also concerned about the operational impact of an attack, both in terms of immediate productivity and long-term damage to reputation and sales.

Confidential Data Theft is the Greatest Cyberattack Concern

60% Confidential or high value data theft/exposure

18% Productivity losses during an attack

10% Reputation damage

5% Loss of sales

4% Other

3%​​​​​​​ Non-compliance

In light of these concerns, many companies have taken greater steps to tackle the issue, with more than half establishing a specific strategy to tackle cybersecurity, the majority having dedicated IT or cybersecurity personnel and around a third increasing spending to support their response over the last year.

Just Over Half of Companies Now Have a Cybersecurity Strategy

54% Have a cybersecurity strategy

23% Don’t have a cybersecurity strategy​​​​​​​​​​​​​​​​​​​​​

23% Don't know

The Majority of Companies Now Have Dedicated Tech Teams

62% Has dedicated IT/cybersecurity staff

29% Doesn’t have dedicated IT/cybersecurity staff​​​​​​​​​​​​​​

9% Don't know

Most Companies are Maintaining or Increasing Cybersecurity Spending

41% Spending has increased

55% Spending has remained largely unchanged​​​​​​​

4% Spending has decreased

In general those surveyed also felt that their organisations had done at least a moderately good job of prioritising cybersecurity concerns from the point of view of both IT and the wider business, but there was variation in strength of opinion by role. While executives were most likely to be very positive about their company’s cybersecurity priorities, those in technical positions tended to be more hesitant in their support. By contrast, individuals in other support roles tended to be the most critical.

Executive Team​​​​​​​

IT and Engineering​​​​​​​

Sales and Marketing

Finance, Purchasing, Operations and Administration

There is variation, too, in sentiment by country. While concern is high across the globe, some regions consider cybersecurity to be a greater cause for concern than others.